crude oil's record ascent to solidly above $121 per barrel
 

cavelamb himself wrote:
Rex wrote:

Gunner wrote:

On Mon, 19 May 2008 15:40:29 -0500, Rex wrote:

Here's the scoop:

http://newsletters.businessweek.com/...7358934ad36&25



Crom!!!! You mean its NOT Bush's fault????????


Well, not yet. In a few weeks it will be.
Certainly by November.



$132 a barrel this morning.

I don't care who's fault it is.

It's speculators. The world is awash in unsold crude right now.
Iran is storing unsold crude in tankers offshore.
Saudi's told Bush they weren't increasing production because there was
no need, and Bush knew that.
U.S. consumption is lower than a year ago.

crude oil's record ascent to solidly above $121 per barrel
 

On Wed, 21 May 2008 16:20:35 -0500, the renowned Rex
wrote:

cavelamb himself wrote:
Rex wrote:

Gunner wrote:

On Mon, 19 May 2008 15:40:29 -0500, Rex wrote:

Here's the scoop:

http://newsletters.businessweek.com/...7358934ad36&25



Crom!!!! You mean its NOT Bush's fault????????


Well, not yet. In a few weeks it will be.
Certainly by November.



$132 a barrel this morning.

I don't care who's fault it is.

It's speculators. The world is awash in unsold crude right now.

Awash in US dollars too.

Iran is storing unsold crude in tankers offshore.
Saudi's told Bush they weren't increasing production because there was
no need, and Bush knew that.

Or he would have made the demand privately.

U.S. consumption is lower than a year ago.


Best regards,
Spehro Pefhany
--
"it's the network..." "The Journey is the reward"
Info for manufacturers: http://www.trexon.com
Embedded software/hardware/analog Info for designers: http://www.speff.com

crude oil's record ascent to solidly above $121 per barrel
 

Rex wrote:
cavelamb himself wrote:
Rex wrote:

Gunner wrote:

On Mon, 19 May 2008 15:40:29 -0500, Rex wrote:

Here's the scoop:

http://newsletters.businessweek.com/...7358934ad36&25



Crom!!!! You mean its NOT Bush's fault????????


Well, not yet. In a few weeks it will be.
Certainly by November.



$132 a barrel this morning.

I don't care who's fault it is.

It's speculators. The world is awash in unsold crude right now.
Iran is storing unsold crude in tankers offshore.
Saudi's told Bush they weren't increasing production because there was
no need, and Bush knew that.
U.S. consumption is lower than a year ago.

By about 23 percent.
I think I'll just leave it there.


--

John R. Carroll
www.machiningsolution.com

crude oil's record ascent to solidly above $121 per barrel
 

In article ,
"John R. Carroll" wrote:

U.S. consumption is lower than a year ago.

By about 23 percent.
I think I'll just leave it there.

But consumption in China and India is up

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